Income Taxes |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes The effective tax rate from continuing operations for the three months ended March 31, 2025 was an expense of 20.3%, which differs from the U.S. statutory rate of 21.0% primarily due to the benefit of noncontrolling interest for which we do not provide income taxes and foreign tax true-ups, partially offset by state income taxes and other permanent differences. The effective tax rate from continuing operations for the three months ended March 31, 2024 was an expense of 25.8%, which differs from the U.S. statutory rate of 21.0% primarily due to state income taxes and foreign income taxes, partially offset by the benefit of noncontrolling interest for which we do not provide income taxes. As of March 31, 2025 and December 31, 2024, our income tax payable for federal, state, and foreign income taxes is $26.7 million and $16.2 million, respectively, which is included in accrued liabilities in the Consolidated Balance Sheets. Deferred income taxes related to railcars in our lease fleet were $1.2 billion and $1.1 billion as of March 31, 2025 and December 31, 2024, respectively.
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